4701 Oleander Drive, Suite A
Myrtle Beach, SC 29577
Planning for the future of your loved ones after your passing can mean more than just writing a last will and testament. For some, a will is enough, but for others, it involves trusts, durable powers of attorney, healthcare powers of attorney, a living will, and more. Developing a comprehensive estate plan can be a difficult process, but not as difficult as it would be for your family if you passed away without your affairs in order. By taking care of things and making decisions ahead of time, you can ensure that your wishes are carried out and that your family doesn’t have to make hard decisions on your behalf.
Axelrod & Associates, P.A., is a law firm in Myrtle Beach, SC, with more than 100 years of collective experience among our attorneys. We value customer service and treat our clients as more than just customers, building a rapport with the individuals we represent and establishing a trusting relationship. Our accommodating law firm stands out by offering flexible hours to accommodate our clientele and valuing our clients as friends, neighbors, and guests of our firm. With a respectful and service-oriented attitude, each estate planning attorney at Axelrod & Associates, P.A., has an established reputation within the North Myrtle Beach area and a successful record in estate litigation.
Estate planning entails proactively preparing, organizing, and transferring, if necessary, all the assets an individual has accumulated throughout their lifetime in a way that meets the wishes of the planner. It can also guide their beneficiaries in the event of their passing or becoming incapacitated to make decisions on their own. With estate planning comes peace of mind in knowing that a structured system is in place to dictate how the planner’s assets will be managed during threatening incidents or after their death. By planning in advance, the individual can consider their beneficiaries in their decisions and put their interests in writing. By creating legally binding estate documents, there is little room for conflict when the time comes for their use.
One of the main benefits of hiring an estate lawyer to assist with estate planning is reaping the benefits of the lawyer’s experience and knowledge. A good estate planning attorney knows when there is a better option to meet the planner’s goals. Legal advice is also useful in learning about alternative options to carry out your wishes in a more efficient way. For example, an attorney can advise clients on options to avoid having their estate go through probate, such as making a living trust rather than a last will and testament.
Additionally, a qualified lawyer who is familiar with state laws regarding power of attorney, for instance, can determine if you need a living will or a healthcare power of attorney, or both, and explain the advantages and differences of each option. There are further advantages to hiring an estate planning attorney, such as minimizing your and your dependents and beneficiaries’ tax burden on your assets and assisting in creating solid documents that can be less vulnerable to disputes or questions after their client’s passing.
Those who are beginning to plan for their passing, whether with the help of an attorney or on their own, have certain steps they should take to ensure they formulate their plan properly so there won’t be any loopholes in their documents later. Below are the most important components of estate planning:
If you plan to embark on estate planning alone, take the time to weigh the value of seeking legal services to, at the very least, review your documents for accuracy and stability. A seasoned estate planning attorney can catch something you may not have thought of.
A: To hire a probate attorney in North Myrtle Beach, SC, expect to pay between $150 and $400 per hour. The cost of estate planning mostly entails creating estate documents, for which the level of legal services involved is far less than what it could potentially cost family members in legal costs if they have disputes in probate administration or end up needing estate litigation.
A: For an estate to qualify for simplified probate, which is an easier and quicker form of the probate process, it must be worth less than the state threshold of $25,000. An estate in excess of $25,000 will be required to go through probate before the distribution of assets can occur.
A: Yes, as long as you have two witnesses’ signatures included. A self-made will does not require a notary, but having it notarized makes it easier for beneficiaries in the aftermath of the testator’s passing. This is called self-proving a will. Self-proving allows a self-written will to go through probate quicker because it avoids the court having to contact the two witnesses to verify the will.
A: If you have value in your estate, and beneficiaries whom you wish to leave your assets to following your passing, you will need a will in SC. If you do not have a will, your estate will be overseen by the state of South Carolina and subject to the statutes of law for dissolving the estate of a deceased person who dies without a will.
If you are considering exploring your options for estate planning in Myrtle Beach, SC, Axelrod & Associates, P.A., would be happy to offer you legal advice to get you started, as well as assist you in creating your estate documents if necessary. Our level of knowledge of wills, trusts, and probate administration is a great tool for anyone beginning estate planning. Whatever your unique situation is, we can help you determine the right course of action for you and your family. Contact Axelrod & Associates, P.A., today to learn more about how we can help you.
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